Older adults across the country are bombarded with invitations to attend seminars that allegedly will clue them in on a supposed “secret” to maximizing their Social Security benefits. Well, if you’re one of those folks, I can save you the…
you’re one of those folks, I can save you the trouble of getting out of the house and traipsing across town to take in one of these little gatherings. Because here is the “secret” you will learn: “Wait as long as possible, preferably to age 70, to file for your Social Security benefits.”
People are also reading… But of course, everyone’s situation is different. And there may be times when it just makes more sense to start your Social Security benefits at an earlier age. Q: I just turned 67. I was planning to wait until 70 to start my Social Security. But I recently got some terrible medical news. I have stage 4 cancer and I probably have less than a year to live, so I just signed up for my Social Security last week. I’d like you to pass on this information to your readers. Let them know that you just never know what’s going to happen and they might want to rethink their plans to delay filing for Social Security.
A: I’m sorry for your loss. And once again, thanks for sharing your story. I’m sure that financial planners and other so-called experts will tell you that statistically, seniors benefit from waiting as long as possible to file for benefits. But your husband’s case shows that is not always the best advice. Of course, no one knows how long he or she is going to live. So, deciding when to start your Social Security benefits is always just a gamble.
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